Point72 Asset Management L.P. Takes $6.62 Million Position in EMCOR Group, Inc. (NYSE:EME)

Point72 Asset Management L.P. bought a new position in EMCOR Group, Inc. (NYSE:EME) during the second quarter, Holdings Channel.com reports. The fund bought 18,139 shares of the construction company’s stock, valued at approximately $6,622,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EME. Eagle Bay Advisors LLC increased its holdings in shares of EMCOR Group by 8.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 456 shares of the construction company’s stock valued at $160,000 after purchasing an additional 34 shares during the period. GAMMA Investing LLC increased its stake in EMCOR Group by 17.2% in the 1st quarter. GAMMA Investing LLC now owns 239 shares of the construction company’s stock valued at $84,000 after buying an additional 35 shares during the period. Miller Howard Investments Inc. NY lifted its position in EMCOR Group by 2.2% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,156 shares of the construction company’s stock worth $787,000 after buying an additional 46 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of EMCOR Group by 30.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 199 shares of the construction company’s stock valued at $73,000 after buying an additional 47 shares during the period. Finally, Cooper Financial Group grew its holdings in shares of EMCOR Group by 3.7% during the 2nd quarter. Cooper Financial Group now owns 1,328 shares of the construction company’s stock valued at $485,000 after acquiring an additional 47 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EME has been the subject of several recent research reports. DA Davidson increased their price objective on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 26th. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday.

Insider Activity at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $370.79, for a total transaction of $482,027.00. Following the transaction, the director now owns 8,637 shares in the company, valued at $3,202,513.23. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.26% of the stock is owned by company insiders.

EMCOR Group Stock Down 0.6 %

EME stock opened at $427.98 on Wednesday. The firm has a 50 day moving average of $380.19 and a two-hundred day moving average of $371.26. EMCOR Group, Inc. has a 12 month low of $191.50 and a 12 month high of $443.96. The company has a market capitalization of $20.11 billion, a price-to-earnings ratio of 28.23 and a beta of 1.07.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, topping the consensus estimate of $3.76 by $1.49. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same period in the prior year, the business posted $2.95 earnings per share. The business’s quarterly revenue was up 20.4% on a year-over-year basis. On average, research analysts expect that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group announced that its board has initiated a share buyback plan on Friday, June 7th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to purchase up to 2.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

EMCOR Group Company Profile

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.